Troy Hill Three-Unit Investment
For Sale
$299,999
1604 Hatteras St, Pittsburgh, PA 15212
3 Unit Apartment Building, Great Location in Pittsburgh
Property Size2,000 SF
Lot Size0.05 Acres
Price / SF$149
Days on Market639
Property Features for 1604 Hatteras St
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Residential income properties, Investment properties
Size
2,000 SF
Class
C
Elevators
N/A
Lot size
0.05 Acres
Occupancy
66%
Building Details
Year Built
1900
Buildings
1
Stories
3
Units
3
Listed By:
Dante Abbondanza
(724) 348-9300
Added: Jan 9, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This three-unit apartment building is located in Pittsburgh's Troy Hill neighborhood. The property includes a front duplex, currently rented with subsidized tenants, providing a consistent monthly income stream. The rear unit is a single-family home that offers privacy and rental potential, suitable for long-term tenants or short-term rentals. The building has a total size of 2000 square feet and is situated on a 0.0486-acre lot. The current occupancy rate is 66%. The property's location benefits from ongoing development in the nearby North Side, suggesting future value appreciation. This multi-family property offers established rental income and upside potential in a Pittsburgh neighborhood. The existing tenants in the duplex provide immediate cash flow, while the single-family home offers flexibility for various rental strategies. The property is an attractive investment in an improving area of Pittsburgh.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,777
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,540
$455.5K
Cap Rate 7%
$325,386
$325.4K
Cap Rate 9%
$253,078
$253.1K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$34.8K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$32.5K $16.27/SF
− OpEx
−$9.8K −$4.88/SF
NOI
$22.8K $11.39/SF
Area
Pittsburgh, PA
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,540
Cap Rate 7%
$325,386
Cap Rate 9%
$253,078
Alternative Uses
Best Use
Multifamily LT 5
$325.4K
$284.7K – $379.6K
NOI $22,777 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$301.3K
$263.7K – $351.6K
NOI $21,094 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$637.0K
$557.3K – $743.1K
NOI $44,587 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 15212, PA
27,016
Population
15,937
Households
1.7
Avg Household Size
38
Median Age
37%
College-Educated
92%
High-School Grad
5.8 sq mi
ZIP Area
4,658
Density / Sq Mi
$61,712
Median Household Income
$45,325
Median Earnings
$1,114
Median Rent
$167,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - 3 Unit Apartment Building, Great Location in Pittsburgh
Where is this multifamily property located?
The property is located at 1604 Hatteras St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $299,999.
